It’s not only Israeli politics that is in a state of flux (MEES, 20 March). Israel’s offshore sector is being hit hard by the slump in oil prices, which has seen capex slashed and has exposed underlying financial woes.
Texas-based Noble Energy, which operates Israel’s key gas fields – 23tcf Leviathan, which entered production at end-2019, and 11tcf, 1bn cfd Tamar – last week announced 29% cuts to 2020 capex, although these will be focused mainly on US shale. (CONTINUED - 390 WORDS)
